Description
Exceptional Return! Exceptional Price! Exceptional Location!
Apartment Sold - MILTON QLD
Savvy Investors will recognise this exceptional opportunity. Buy for $290,000. Great regular monthly income after rental management fees (see full financial information at the end of this ad). Perfectly suited to a Buyer who has a Self-Managed Super Fund (SMSF) – a great addition to an investment portfolio.
This apartment is also ideally suited for a Buyer who has downsized and moved out of Brisbane and want to remain connected to Brisbane for work, family or pleasure or for an interstate (or out of Brisbane) businessperson who needs a City pad for when they visit Brisbane.
This 4.5 Star boutique short-stay apartment is located in one of the most highly sort after locations in Brisbane (Milton) and promises to be the perfect getaway home/office for busy people who want comfort, convenience and lifestyle in a great city and river view location (check out the video in this advertisement).
The beauty of this apartment complex (Central Cosmo Apartments) is that when you are not using your apartment, have it rented out on a daily basis using the professional onsite management. Apart from the cracking location and the flexibility, the next best thing about this apartment is that the price.
Please note, you cannot use this property as your principal place of residence (live in it as your home), however owners have good rights – call the agent for further details. Please also note this complex was not inundated by water from the late February/early March 2022 floods.
ABOUT THE LOCATION
With Roma St Station Precinct upgrade (includes cross-River Rail) and new world class Queen’s Wharf Brisbane both under construction, together with the bonus of the Olympic Games being held in Brisbane in 2032 this is a no brainer for the long-term savvy buyer.
• Located on trendy Park Road
• Walk to everything, restaurants, iconic hotels, cafes, bottle shop, shopping areas and cinemas.
• 15 minutes’ drive to the Brisbane domestic airport (less to the international airport)
• Brisbane’s most acclaimed Chinese restaurant “China Sea – Milton” is a resident in this complex.
• Do you love sports and entertainment – Suncorp Stadium (home to last year’s NRL Grand Final) is 1.0 km away
• Walk to the Milton Train Station (two stops to the city)
• The Milton CityCat Terminal is 150 metres away (one stop to the city, two stops to Southbank parklands, restaurants, museum, performing arts and much more)
• Walk to the City (approx. 2.3 km – 30 min)
• 65-70 minutes’ drive south or north to world class beaches
• Do you like walking, running, or cycling – fantastic riverside walkway is just 100 metres away
ABOUT THE APARTMENT
• Stylish 4.5 star one bedroom apartment on the 4th Floor (total of 5 Levels)
• 45 sqm of living plus use of the secure car park when the owner stays
• Private balcony with fantastic views of the city and Brisbane river
• Free High speed WiFi recently installed
• Rare, free car parking available when owner stays
• Tasteful decor and furnishings
• Self-contained kitchenette
• Washing machine and drier in hideaway in bathroom
• Sold fully furnished
• Airconditioned
• Small gym and large sauna
• Professionally managed by Central Cosmo Apartments if you choose
FINANCIAL INFORMATION ON THIS PROPERTY
If you are just a pure investor (or only like to stay a couple of days a year) then here are your numbers.
The net revenue for Mid-April to 30 Nov 2022 (7.5 months/230 days/32.9 weeks) was $17,624 or $536 p.w. after rental management fees, cleaning fees and maintenance costs. The gross revenue for this same 7.5 months was $23,627.
Outgoings
Brisbane City Council Rates = $450.20 per quarter
Qld Urban Utilities (Water). Approx. $290 per quarter
Body Corporate Fees: Admin & Sinking Fund = $7,747.34 per annum (admin = $5,486.28 + Sinking Fund = $2,261.06)
Balance of Sinking Fund: $294,514 as of 1/09/2022.
Note that because daily rental rates have been increased earlier this year by about 20% across all apartments, combined with the opening of our international borders to visitors, the net revenue has been steadily increasing (by about 10% for owners).
Want a virtual tour no problems. For further information on this property, please call (0432 00 33 55) or email Jeff Smith.
Property Features
- Apartment
- 1 bed
- 1 bath
- 1 Parking Spaces
- Floor Area is 45 m²
- Garage
